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What is a property abstract?

A property's legal history, as recorded in the property abstract, is vital to understand before purchase. The abstract contains a list of all documents associated with the real property, such as deeds and mortgages, along with information about former owners and when they owned the property.

What is an abstract of title in real estate?

He has written hundreds of articles about how real estate works and how to use it as an investment and small business. The Balance is part of the Dotdash Meredith publishing family. An abstract of title in real estate is an important document that includes the history and proceedings of a property. Learn how they're used by homebuyers.

Do I need an abstract of title when buying a property?

If you don’t obtain an abstract of title when purchasing a property, your lender may require you to buy title insurance to protect them and you from legal issues caused by title defects. If you’re feeling unsure about whether you need an abstract of title, it’s best to consult an attorney for advice on your situation.

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